Best Classic Car Insurance

Classic car insurance costs less than regular car insurance because a classic spends less time on the road than a vehicle used for commuting or errands. The average classic car insurance policy costs between $400 and $1,000 per year.

Like with any auto insurance policy, each driver's classic car insurance premium will vary based on individual risk factors such as location, driving history, the driver's age, and the vehicle's value. Classic car insurance usually applies to antique vehicles as well as to old, high-performance cars. Requirements and prices vary by company, though.

Classic Car Insurance Costs by Company

• Grundy: 50%+ less than standard car insurance
• Hagerty: up to 36% less than standard car insurance
• American Collectors: up to 40% less than standard car insurance
• Nationwide: up to 43% less than standard car insurance
• Heacock Classic: up to 40% less than standard car insurance

Why Classic Car Insurance Costs Less Than Normal Car Insurance

Almost every classic car insurance provider forbids regular use of the vehicle, which reduces the risk for the insurer and keeps costs low. Classic cars are generally limited to parades, car shows, and pleasure driving up to a mileage limit stated in the policy. As a result, you may need to provide proof that you own a regular car for daily use when purchasing classic car insurance.

Another key difference is that most classic car insurers pay the vehicle's “agreed value” if it is totaled. This amount is decided when the policy is purchased and reflects the fact that classic cars maintain their worth over time. On the other hand, standard car insurance policies usually pay a vehicle's actual cash value in the event of a total loss, accounting for depreciation.

How to Lower the Cost of Classic Car Insurance

You can lower the cost of a classic car insurance policy by comparison-shopping for quotes and taking advantage of discounts. Many discounts will be the same as those for regular car insurance, such as discounts for having an anti-theft device or taking a defensive driving course. Some companies also offer discounts for membership in certain car clubs or for switching from a different insurer.

Classic car insurance provides financial protection for the vehicle's owner and it generally includes coverage similar to liability, comprehensive, and collision, but tailored to a classic car's needs. While regular car insurance allows you to pick your policy limits, classic car insurance sets your policy limits based on the "book value" of your vehicle, which is a value you and your insurer agree upon based on your car's year, make, and model.

Most insurers will have strict eligibility requirements for classic car policies. These restrictions often include:

• Driving restrictions - Owners won't be able to use the vehicles for general transportation.
• Driver restrictions - Younger drivers or drivers with recent at-fault accidents on their record might have a hard time finding an insurer to cover them.
• Storage requirements - Vehicles must be stored in an enclosed and locked structure.

Classic car insurance can usually be used to cover exotic cars, hot-rods and super-performance vehicles. The requirements for a vehicle to be eligible for a classic car registration will vary greatly based on the state you live in, so make sure to check your state laws before you start shopping for classic car insurance.

A car has to be at least 10 to 20 years old to qualify for classic insurance, though exact requirements vary by insurer. In some cases, insurers offer classic car insurance to newer vehicles if they have some amount of collectable value.

Age Requirements for Classic Car Insurance by Company

It's important to note that age is not the only factor that qualifies a car for classic coverage. For example, State Farm offers classic car insurance to vehicles as young as 10 years old, but the car must be of historic interest, which typically means that it is owned for the main purpose of exhibition and historic vehicle club activities. Additionally, it's very common for insurers to place strict mileage caps on a classic vehicle, meaning that it can't be used for everyday driving.

To learn more, check out WalletHub's guide to classic car insurance.

Yes, State Farm does have classic car insurance for 10-25+ year-old vehicles that have been restored or maintained in their original condition, or are being rebuilt. State Farm's classic car insurance is generally reserved for vehicles that are widely recognizable and have “historic interest,” like a hot rod or a muscle car. More specifically, State Farm not only offers insurance for classic cars, defined as vehicles that are 10-24 years old and of historic interest, but it also insures antique cars, defined as vehicles that are at least 25 years old with the same historic interest standard.

Unique insurance is necessary for antique and classic cars because they often appreciate in value, unlike new vehicles, which depreciate in value as soon as you drive off the lot. Classic car insurance provides coverage that's better tailored to the more expensive or specific needs of qualifying vehicles in case of damage or loss. Also, since classic and antique cars don't have a “book value,” State Farm and a customer must agree on a value for the vehicle based on a variety of factors like its age, what kind of car it is, and its condition.

State Farm Classic Car Insurance Requirements

• The vehicle must be stored in an enclosed building.
• The vehicle can be driven no more than 2,500 miles per year.
• The vehicle should only be used for things like shows, exhibitions, club activities or parades.
• Drivers must have access to other vehicles for everyday use.
• Drivers must meet qualifications based on age and driving record.

Remember, the availability and rules regarding State Farm's classic car insurance depend on a customer's state and a variety of other factors. It's best to talk to your local State Farm agent about whether or not classic car insurance makes sense for your policy.

Yes, Geico offers classic car insurance through a partnership with Assurant for vintage cars, exotic cars, replica cars, classic military cars, or vehicles that are similar. Unlike a normal car insurance policy, Geico classic car coverage is designed for vehicles that do not lose value over time and are not for daily use.

Geico uses an agreed value system, which means that your classic car's value will be agreed upon by you and Geico when you purchase your policy. The appraisal value will be based on factors like the make and model of the car, how many miles it has on it, historical sales prices, appraisal documents that you provide, and photos of the car.

Geico Classic Car Insurance Vehicle Requirements

• Vintage 1995 model year or older
• A new exotic car, such as an Aston Martin, Lotus, or Alfa Romeo, among others
• A new replica car, like a 1966 Batmobile
• A classic military vehicle, hearse, fire truck, or similar
• Used only for exhibitions, club activities, and occasional pleasure driving
• Stored in a fully enclosed and locked structure

Every company has slightly different eligibility rules for classic car insurance, so you can always check with another insurer if your vehicle does not qualify for a Geico policy. Requirements may also vary by state.

To get a quote for Geico classic car insurance, call (866) 344-2527.

To learn more, check out WalletHub's guide to classic car insurance.

Yes, Allstate offers classic car insurance through a partnership with Hagerty for vintage cars, exotic cars, classic military vehicles, and more. Unlike a normal car insurance policy, Allstate classic car coverage is designed for vehicles that do not lose value over time.

Allstate classic car insurance uses an agreed value system, which means that the car will be valued at a specific amount when you buy the policy. The amount will be determined by appraisal documents and photos of the car that you provide.

Allstate Classic Car Insurance Vehicle Requirements

• Antiques, classics or modern classics from the 80s, 90s and the 2000s
• Muscle cars, sports cars, hot rods, and custom builds
• Old military vehicles, antique tractors, retired fire trucks, and more

Every company has slightly different eligibility rules for classic car insurance, so you can always check with another insurer if your vehicle does not qualify for a Allstate policy. Requirements may also vary by state.

For more information about Allstate classic car insurance or to get a quote, call (800) 255-7828.

Progressive offers classic car insurance protected by Hagerty's Guaranteed Value Coverage. Hagerty's coverage is specifically for classic cars. In the event of a covered loss, Hagerty's Guaranteed Value Coverage pays every cent of your classic car's insured value, minus your deductible.

There are two main differences between classic car insurance from Progressive and its regular car insurance:

1. Annual Mileage

Progressive Classic Car by Hagerty defines classic cars as “fun-to-drive” vehicles that maintain or increase their value. Progressive doesn't have per-trip or per-day mileage restrictions, but there are still limits to how much you can drive annually to qualify.

Progressive doesn't give a specific annual mileage limit, but classic car insurance is not for daily commuter driving. There are several mileage options available, but the vehicle should stay in a locked garage or storage facility most of the time.

2. Physical Damage Coverage

Regular car insurance only covers the actual cash value of your car, which considers depreciation. Classic car insurance covers the entire value of your car, which you and Progressive agree to in advance. Progressive will pay this full value, minus your deductible, if the car is totaled. If your car is not a total loss, classic car insurance guarantees original replacement parts, while regular insurance uses aftermarket parts that can decrease a classic car's worth.

In addition to physical damage coverage, Progressive matches the amount of liability insurance on your everyday vehicle.

Classic car insurance from Progressive usually costs about $276 less than a standard annual policy, according to the company. But pricing is based on how much the car is worth, how you store it, and how much you drive it. To purchase Progressive classic car insurance by Hagerty, get an online quote or call 1-888-534-8980.

You can get classic car insurance in California by purchasing it from a traditional insurance company that offers classic coverage, like Geico or State Farm, or from a specialty insurer like Hagerty. When shopping for classic car insurance in California, you need to make sure that your vehicle meets each insurer's requirements for coverage, including age specifications and annual mileage caps. Additionally, some insurers only allow you to purchase classic car insurance if you drive fewer than a certain number of miles each year.

Where to Get Classic Car Insurance in California

• State Farm
• Safeco
• Hagerty
• American Collectors
• Assurant
• Geico (through Assurant)
• Progressive (through Hagerty)
• Allstate (through Hagerty)
• USAA (through American Collectors)
• Nationwide (through Hagerty)
• The Hartford (through Hagerty)
• National General (through Hagerty)

Classic car insurance is specialty coverage for antique, exotic, and super-performance vehicles that are driven for pleasure rather than everyday use. This type of insurance is typically cheaper than standard car insurance, since classic cars are driven less than commuter vehicles. Classic car insurance also accounts for the fact that classic cars may appreciate in value over time, which is not the case for standard vehicles.

To learn more, check out WalletHub's guide to the best classic car insurance.

You can get classic car insurance in Florida by purchasing it from a traditional insurance company that offers classic coverage, like Geico or State Farm, or from a specialty insurer like Hagerty. When shopping for classic car insurance in Florida, you need to make sure that your vehicle meets each insurer's requirements for coverage, including age specifications and annual mileage caps. Additionally, some insurers only allow you to purchase classic car insurance if you drive fewer than a certain number of miles each year.

Where to Get Classic Car Insurance in Florida

• State Farm
• Safeco
• Hagerty
• American Collectors
• Assurant
• Geico (through Assurant)
• Progressive (through Hagerty)
• Allstate (through Hagerty)
• USAA (through American Collectors)
• Nationwide (through Hagerty)
• The Hartford (through Hagerty)
• National General (through Hagerty)

Classic car insurance is specialty coverage for antique, exotic, and super-performance vehicles that are driven for pleasure rather than everyday use. This type of insurance is typically cheaper than standard car insurance, since classic cars are driven less than commuter vehicles. Classic car insurance also accounts for the fact that classic cars may appreciate in value over time, which is not the case for standard vehicles.

To learn more, check out WalletHub's guide to the best classic car insurance.

A car is considered a classic in Texas if it's at least 25 years old, is owned solely as a collector's item, and is not a replica or aftermarket vehicle. When a vehicle in Texas meets these requirements, the owner can register it as an antique vehicle, which will limit the car's use. Specifically, classic cars in Texas can only be used for exhibition, club activities, parades, and other functions of public interest.

Classic Car Qualifications in Texas

• At least 25 years old
• Owned solely as a collector's item
• Not a replica or aftermarket vehicle
• Used for exhibitions, parades, club activities, and similar functions

Keep in mind that even if your vehicle is registered as a classic car in Texas, it might not qualify for classic car insurance from certain companies. Each classic car insurer has its own eligibility requirements, so your car will need to meet those standards in order to qualify.

To learn more, check out WalletHub's guide to the best classic car insurance companies.